Stakeholders near and far are hailing a near-record number of takeouts from Citizens’ Property Insurance Corp. as a sign that the troubled Florida insurance market is improving, even if it will likely mean higher premiums for homeowners. “This is what …
Republished from S&P Global Market Intelligence For the first time in three years, Florida’s struggling domestic residential property insurers have posted a quarterly profit, according to an analysis by S&P Global Market Intelligence. Excluding Citizens Property Insurance Corp., Florida property …
Two Florida Democratic state senators are hosting webinars this month and next on the state’s property insurance situation. “Homeowners Insurance 101: A Guide for Insurance Coverage,” a series of virtual town hall meetings, began Wednesday on the Florida Senate Democratic …
Despite years of complaints from Florida property insurers and some lawmakers that out-of-control claims litigation was destroying the industry, recent regulators’ reports about the reasons for insolvencies make little mention of the “L-word.” The omission has prompted some head scratching …
Florida property insurers now have a week to attest that they have and use claims-handling manuals that reflect industry practices and standards, the state Office of Insurance Regulation said in a bulletin. By Aug. 1, insurance carriers must submit a …
Florida regulators are reminding carriers that the deadline to participate in the November round of takeouts from Citizens Property Insurance Corp. is fast approaching. Carriers must submit an application by July 28, the Florida Office of Insurance Regulation said in …
One month after it announced it would stop writing new homeowner policies in Florida, Farmers Insurance now says it plans to cut back further on its presence in the hurricane-prone state. The Florida Office of Insurance Regulation said Tuesday that …
Florida’s beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016 and much smaller underwriting losses than in recent years, according to state regulators’ latest market stability report. …
It seems that few are safe from soaring property insurance rates in Florida, not even those with strong connections to a higher authority. The Crux, a Catholic news outlet, reported that the Catholic Church’s Pensacola-Tallahassee Diocese has been unable to …
ORLANDO – Just as some California insurance agents are expressing grave concerns about the future of that state’s insurance market, a number of Florida agents feel like they’ve turned something of a corner. “Things are getting better. They are,” said …
